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bigexternal bigexternal
wrote...
Posts: 1279
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7 years ago
You borrow $42,500 over a nine year term. Your bank charges an annual rate of 10%.  If the loan is repayable in equal end-of-period, annual payments, then what is the loan payment?
A) $7,379.72
B) $7,966.37
C) $6,916.68
D) $6,641.75
E) $8,117.70
Textbook 
Corporate Finance Online

Corporate Finance Online


Edition: 1st
Authors:
Read 448 times
2 Replies
We're using: Corporate Finance Online (Eakins, McNally)

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Replies
wrote...
7 years ago
A) $7,379.72
bigexternal Author
wrote...
7 years ago
I was skeptic but after double checking it checks out, thanks
We're using: Corporate Finance Online (Eakins, McNally)
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